Global Rail Transportation Market to Reach $561.7 Billion by 2026
SAN FRANCISCO, June 25, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Rail Transportation - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: February 2021
Executive Engagements: 352
Companies: 170 - Players covered include National Railroad Passenger Corporation (Amtrak); ATS, INC.; BNSF Railway Company; Canadian National Railway; CSX Corporation; DB Cargo; DHL International GmbH; HALLCON CORP; Norfolk Southern Corp.; Patriot Rail Company LLC; Professional Transportation, Inc.; R. J. Corman Railroad Group; Russian Railways (RZhD); Union Pacific Railroad Company and Others.
Coverage: All major geographies and key segments
Segments: Type (Passenger, Freight)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Rail Transportation Market to Reach $561.7 Billion by 2026
Railway industry investments are driving significant technological advancements and innovation such as connected solutions to improve scheduling, service, safety, security, accessibility, profitable operations, and capacity planning for the future, while indicating critical role of railways in passenger and freight transportation in the coming years. Infrastructure spending on new and existing railway networks continues to escalate across the world because of various reasons. Railways represent the most environmental-friendly land transport mode, with much lower energy consumption and lesser CO2 emissions per tonne-kilometer than roadways or waterways. Personal as well as freight transportation needs of world population is growing in tandem with increase in business and commercial activity, while putting additional pressure on existing transportation networks including roadways, aerial and sea routes, besides railways. The scenario is forcing the governments to enhance their transportation networks across the board, through installation of new projects and expansion of existing infrastructure. Railway networks, offering a plethora of benefits in passenger and freight transport, continue to gain traction in government budgets on improving transport infrastructure. Although the current scenario remains grim for railway sector, outlook for 2021 and beyond however appears to be mostly optimistic. Anticipated resurgence in global economy, and improvements in business and consumer confidence indices, and revival in industrial activity would aid railway sector to bounce back into growth trajectory in 2021. Renewed activity in mining & minerals, iron & steel, coal, and petroleum sectors, especially in China, India, the US and the Middle East & Africa, would push the demand for rail freight services.
Amid the COVID-19 crisis, the global market for Rail Transportation estimated at US$427.3 Billion in the year 2020, is projected to reach a revised size of US$561.7 Billion by 2026, growing at a CAGR of 4.7% over the analysis period. Passenger, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach US$316.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Freight segment is readjusted to a revised 4.1% CAGR for the next 7-year period. This segment currently accounts for a 48.2% share of the global Rail Transportation market.
The U.S. Market is Estimated at $101.7 Billion in 2021, While China is Forecast to Reach $95.6 Billion by 2026
The Rail Transportation market in the U.S. is estimated at US$101.7 Billion in the year 2021. The country currently accounts for a 23.25% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$95.6 Billion in the year 2026 trailing a CAGR of 6.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$101.7 Billion by the end of the analysis period. In North America and Asia, freight operations are generally longer than in Europe, stop less frequently, and the freight infrastructure facilitates for substantially heavier and longer trains that run economically. Steered by governmental emphasis on improving the connectivity and public transportation infrastructure in rural, semi-urban and urban areas, spending on new high speed trains, mainline trains, metro trains, and freight trains increased considerably. More
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